MSME stands for Micro, Small and Medium Enterprises. In a developing country like India, MSME industries are the backbone of the economy.
Even if your company operates in the manufacturing or service sector, registrations for both areas can be obtained through the MSME Act. While the government has not yet made this registration mandatory, it is highly beneficial to register your business under the MSME Act. It provides numerous advantages, including tax benefits, assistance in setting up the business, access to credit facilities, easier loans, and more.
The MSME Act became operational on October 2, 2006, with the goal of promoting, facilitating, and enhancing the competitiveness of micro, small, and medium enterprises. Registering under this act is a strategic move for businesses looking to leverage these benefits for growth and stability."
| Particulars | MICRO | SMALL | MEDIUM |
|---|---|---|---|
| Manufacturing Enterprises | Rs 2,500,000 | Less than Rs 50,000,000 | Less than Rs 100,000,000 |
| Service Enterprises | Less than Rs 10,00,000 | Less than Rs 20,000,000 | Less than Rs 50,000,000 |
At CA Sands & Company, we can assist you with the Credit Guarantee Fund Scheme (CGS) for Micro and Small Enterprises, launched by the Government of India to provide collateral-free credit to businesses in this sector. The scheme covers both existing and new enterprises, making it an excellent option for businesses looking to secure funding without the need for traditional collateral.
The Ministry of Micro, Small and Medium Enterprises, along with the Small Industries Development Bank of India (SIDBI), established the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) to implement this scheme. This initiative aims to support and empower micro and small businesses by providing easier access to credit facilities.
We recognize the importance of the Reservation Policy, a key initiative under the Industries (Development and Regulation) Act, 1951, aimed at promoting the small-scale industries (SSI) sector. This policy reserves certain items exclusively for manufacture by SSI units and serves two primary objectives:
Having an MSME Certificate simplifies the process for enterprises to obtain licenses, approvals, and registrations across various fields for their business. By presenting the MSME Registration Certificate during the application process, businesses can easily secure the necessary authorizations from the relevant authorities.
Under the International Cooperation Scheme, financial assistance is provided on a reimbursement basis to State/Central Government organizations, industry associations, registered societies, trusts, and organizations linked to the MSME sector. This assistance supports the deputation of MSME business delegations to other countries for exploring new opportunities, participation of Indian MSMEs in international exhibitions, trade fairs, and buyer-seller meets, as well as the organization of international conferences and seminars that benefit the MSME sector.
The refund scheme for octroi, as provided under the Package Scheme of Incentives, 1993, will continue to be included in the new scheme until March 31, 2006, following the same guidelines. If an account-based cess or another levy is imposed in place of octroi, it will also be eligible for a refund, similar to the octroi refund process.
Currently, IT units located in public IT Parks are exempt from Stamp Duty and Registration fees until March 31, 2006. Moving forward, all new industrial units with MSME registration, as well as those undergoing expansions, will also be exempt from the payment of Stamp Duty and Registration fees, offering significant financial benefits for businesses in the MSME sector.
Enterprises that have MSME Registration can enjoy Direct Tax Exemption in the initial year of business, as mention in the scheme by Government and depending on business activity.
Enterprises with MSME registration are eligible to benefit from the Bar Code Registration subsidy, as outlined in the scheme. This subsidy helps businesses reduce costs associated with barcoding, facilitating better product identification and enhancing market competitiveness.
At CA Sands & Company, we understand that a trademark serves as a unique identity that distinguishes your product or service from others in the market. This distinctive identity can take various forms, including a logo, photograph, slogan, word, sound, smell, color combination, or graphic design. Many businesses typically seek registration for their logo or name; however, if you have developed a unique idea or logo, the best way to protect it as your own distinct identity is through trademark registration. A registered trademark becomes an intangible asset and an essential piece of your business's intellectual property, safeguarding the investment made in your logo or brand.
In India, trademarks are registered by the Controller General of Patents, Designs and Trademarks under the Ministry of Industry and Commerce. You can register your trademark under the Trademark Act, 1999. This registration grants you the right to take legal action against anyone who attempts to copy your trademark, ensuring that no one else can use a similar mark. Upon successful registration, you can use the ® symbol, which remains valid for ten years from the registration date. While obtaining a ™ symbol can be completed in as little as three days, acquiring the ® symbol may take up to two years. If your trademark registration is nearing expiration, it can be re-registered for an additional ten years.
Certificate of Incorporation, MOA and AOA
PAN card And Aadhar Card of Directors
Business Details like, Number of Employees, Capital Investment asked by our experts
Logo, Website Details & Innovative Information, Trademark & Patent Information
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